Byju’s creditors demand half of the loan to be repaid

Byju’s creditors have asked the company to immediately repay half of a $1.2 billion loan they recently purchased.

After the edtech titan violated terms, the lenders hired Houlihan Lokey Inc. to assist them on revising covenants.

The company is looking to modify the loan since it is struggling with significant losses and meeting its price reduction commitments.

On Monday, the loan was trading at 80 cents on the dollar, although identical debt from another Indian firm, Oyo Hotels, is trading near the problem value. Rothschild & Co. is representing Byju’s in the negotiations.